Corteva, Inc. and Symborg recently announced the signing of an agreement for Corteva to acquire Symborg, based in Murcia, Spain.
The acquisition provides Corteva with Symborg’s diverse portfolio, emerging biocontrol pipeline and skilled employee base geared with extensive technical knowledge and expertise on demand generation, according to a release.
“Acquiring Symborg is a significant next step in Corteva’s strategy to accelerate the development of a best-in-class biologicals portfolio, as a valuable part of our integrated solutions we offer to our customers,” said Robert King, executive vice president of the Crop Protection Business Unit at Corteva Agriscience. “Over the past three years, Corteva has established licensing and distribution agreements with the top biological companies, which we selected after evaluating technologies and demonstrating customer acceptance. This acquisition shows Corteva’s progression towards further establishing itself as a technology leader in this rapid growth segment.”
The two companies initially joined forces to offer growers Utrisha N and BlueN – nutrient efficiency optimizers – under their distribution agreement. The natural-origin biostimulant makes fixed nitrogen from the air available to the plant, offering an alternative nitrogen source that could potentially reduce greenhouse gas emissions caused by fertilizer use.
The collaboration aligns with Corteva’s mission to create a diverse and sustainable portfolio with cost-effective solutions for farmers, shared the release.
“Supporting farmers worldwide with our cutting-edge biobased solutions has always been the Symborg motto,” said Jesús Juárez, Symborg’s founding partner and CEO. “That spirit together with a highly skilled team, led us to become a key player towards sustainable agriculture. The integration with Corteva is an opportunity to reinforce our impact in the field helping farmers facing current and future challenges. And beyond, it is an opportunity to become the answer to safe and sustainable food that society is demanding. Symborg and Corteva share values and market vision, becoming the perfect match to design the future of agriculture.”
Customary closing conditions will dictate the closing date of the acquisition. After the deal has closed, Symborg locations in Murcia, Spain, as well as subsidiaries in the U.S., Mexico, Peru, Chile, Brazil, France, Turkey, China and Australia, will turn into crucial elements for Corteva’s Biologicals Portfolio.
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